Mondrian Investment Partners LTD raised its position in shares of Koninklijke Philips (NYSE:PHG – Free Report) by 32.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,570,660 shares of the technology company’s stock after purchasing an additional 626,597 shares during the quarter. Mondrian Investment Partners LTD owned 0.29% of Koninklijke Philips worth $47,172,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of Koninklijke Philips by 31.9% in the first quarter. Bank of New York Mellon Corp now owns 88,793 shares of the technology company’s stock worth $1,629,000 after acquiring an additional 21,479 shares during the period. US Bancorp DE lifted its holdings in shares of Koninklijke Philips by 23.7% in the first quarter. US Bancorp DE now owns 65,989 shares of the technology company’s stock worth $1,211,000 after buying an additional 12,659 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Koninklijke Philips in the first quarter worth $1,695,000. NewEdge Wealth LLC lifted its holdings in shares of Koninklijke Philips by 25.2% in the first quarter. NewEdge Wealth LLC now owns 36,205 shares of the technology company’s stock worth $664,000 after buying an additional 7,283 shares in the last quarter. Finally, Emfo LLC lifted its holdings in shares of Koninklijke Philips by 132.7% in the first quarter. Emfo LLC now owns 6,137 shares of the technology company’s stock worth $113,000 after buying an additional 3,500 shares in the last quarter. 6.58% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. Citigroup boosted their target price on shares of Koninklijke Philips to €19.00 ($20.88) in a report on Friday, July 7th. Societe Generale upgraded shares of Koninklijke Philips from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. StockNews.com upgraded shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. The Goldman Sachs Group initiated coverage on shares of Koninklijke Philips in a research note on Wednesday, July 12th. They issued a “buy” rating for the company. Finally, TheStreet raised shares of Koninklijke Philips from a “d+” rating to a “c-” rating in a research report on Monday, July 24th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.06.
Koninklijke Philips Stock Performance
NYSE:PHG traded down $0.24 during midday trading on Friday, hitting $20.26. The company’s stock had a trading volume of 537,623 shares, compared to its average volume of 1,490,677. Koninklijke Philips has a fifty-two week low of $11.75 and a fifty-two week high of $23.30. The firm’s 50 day moving average is $20.95 and its 200-day moving average is $19.17. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.69. The firm has a market cap of $18.81 billion, a P/E ratio of -8.76 and a beta of 0.93.
Koninklijke Philips (NYSE:PHG – Get Free Report) last issued its quarterly earnings results on Sunday, July 23rd. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.08. Koninklijke Philips had a negative net margin of 10.84% and a positive return on equity of 7.95%. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the company earned $0.15 EPS. Equities analysts anticipate that Koninklijke Philips will post 1.11 earnings per share for the current fiscal year.
About Koninklijke Philips
Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. It operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. The company provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease; proprietary software to enable diagnostics and intervention; and enterprise diagnostic informatics products and services.
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